Can I Withdraw My Casino Bonus?
The straightforward answer to whether or not you can withdraw bonus money is yes. However, there are various, often complicated terms and conditions that stipulate how cashing out a bonus works. Fortunately, we are here to explain the process to you, this way you know exactly what to do when it’s time for you to cashout.
Every casino has its own way of doing things, but as far as withdrawing bonuses go, one thing is constant – wagering requirements. Usually, to even be eligible for a bonus from the casino you must make a deposit unless you are benefiting from a no deposit bonus. The general rule among most casinos is that both your deposit and the bonus money are locked together and will only be unlocked and enabled for withdrawal once you’ve met the wagering requirements for that particular online casino.
Rules About Withdrawing Your Casino Bonus
The rules on withdrawing bonuses can differ depending on the type of bonus you’ve received. To explain what we mean by this we will use match bonuses and deposit bonuses as examples.
Withdrawal Rules for Match Bonuses
Match bonuses are designed to help you out while you are playing by giving you extra money to play with, it’s not so much intended to boost your overall pocket when you cashout. Match bonuses are given to supplement your bankroll. When it’s time to cashout you will only be able to withdraw your initial deposit and whatever winnings you accrued from it. The exact match bonus amount will be returned to the casino before your overall cashout amount is given.
For example, if you made a deposit of $50 and the casino gave you a 100% match bonus, this means you’ve been given an extra $50 to play with pushing your total up to $100. When you start playing, you’ll first use up the $50 that you’ve deposited. If you happen to win money while using your own money you will be able to make a withdrawal, but you will have to pay back the $50 match bonus first. The remaining amount is for keeps.
However, if you did not manage to make any money while using your deposit, the other $50 will come into play. But remember, there is a wagering requirement attached to all bonuses which means that you will first have to meet the stipulated requirement before you will be allowed to withdraw the bonus money.
Withdrawal Rules for Deposit Bonuses
Deposit bonuses on the other hand work differently to match bonuses. Instead of treating your deposit and match bonus as separate, deposit bonuses combine your real money deposit and bonus amount and treats it as one. This means that when you start playing you will have the combined amount at your disposal to use for placing bets, not one amount at a time as is the case with match bonuses.
Your options are also more flexible when it comes to cashing out. Some casinos are lenient and give you the option to only withdraw winnings accrued from your deposit if you do not have the time to play through the wagering requirements. Sadly, you do not have that option when both amounts are combined. If you choose to forfeit the bonus money, you also choose to forfeit your deposit amount since they are treated as one.
For example, if you made a $50 real money deposit and the casino gives you a 100% deposit bonus, your new balance will be $100. When you start playing, you have the whole $100 available to place wagers. But, you will have two balances just to keep track. So, if you place a $5 bet on your favorite slot game, it means $2.50 will come from the deposit and bonus each. Similarly, when you win money, your winnings will be split equally between each balance.
As mentioned previously, some casinos may allow you to forfeit one for the other. But deposit bonus rules state that you must first complete the wagering requirements for the bonus amount if you would like to withdraw the entire sum of money. If you can’t meet the wagering requirement, you lose all.
Claim Your Casino Bonus
If you are tired of reading about casino bonuses and would like to know how to claim yours, it’s easy. Visit any of the casinos that we list here on cancasinos.com, and, just for signing up, you will receive a welcome bonus. Thereafter you will be treated to deposit or match bonuses. There’re also many other promotions to take advantage of. What are you waiting for?
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